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...this current downturn as well, Walker's dim views, which at first seemed on the fringe, now appear less farfetched. The International Monetary Fund (IMF) in late January revised its forecasts for 2009 sharply downward, predicting the slowest global growth rate since World War II, at only 0.5%. IMF chief economist Olivier Blanchard said he expects "the global economy to come to a virtual halt." Even China would record only 6.75% GDP growth in 2009, according...

Author: /time Magazine | Title: Pundit: China's Economic Growth Could Stop | 2/3/2009 | See Source »

...weeks ago, it was the Flub Heard ’Round The World. Today, President Barack Obama’s forgettable and fumbled exchange with Chief Justice John G. Roberts Jr. ’76 has been relegated to a historical footnote and their subsequent reenactment assigned to the annals of White House lore. As a nation, we seem ready to both trivially group Barack Obama with Chester Arthur and Calvin Coolidge—predecessors who gave the oath another go—and direct future visitors to the White House Map Room to admire the fireplace before which history...

Author: By Eric B. Lomazoff | Title: An Oath “Faithfully” Reenacted | 2/3/2009 | See Source »

...expectation that events would run like clockwork was disappointed on January 20, casting the tiniest of palls on an extraordinary day certain to join our mystic chords of memory. When the chief justice rendered “faithfully” the successor to the word “president” and not the predecessor of the word “execute,” I felt betrayed of the perfection promised not by the historic character of Barack Obama’s inauguration but by the Constitution itself. Time was hardly “out of joint?...

Author: By Eric B. Lomazoff | Title: An Oath “Faithfully” Reenacted | 2/3/2009 | See Source »

...half, I labored—largely successfully—to banish from my mind the image of “faulty mechanics.” This, of course, is both what Obama and Roberts practiced and what they momentarily were. The sight of the President and the chief justice warmly greeting each other at the ensuing Congressional luncheon was comforting but less than redemptive. The first photos of the president conferring with his chief of staff in the Oval Office were more soothing...

Author: By Eric B. Lomazoff | Title: An Oath “Faithfully” Reenacted | 2/3/2009 | See Source »

When The Big Three CEOs were making their initial pitch for federal funds in early December, the chief economist at Moody's Economy.com said that the car companies were "low balling" their needs. He testified at a House hearing and said that the amount of the bailout would have to be $75 billion to $125 billion...

Author: /time Magazine | Title: 2009 Car Sales: Detroit Can't Cut Costs Enough | 2/2/2009 | See Source »

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